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CLE
Law Practice Phase Two: Building a Plan for the Next Era of Your Career
DATE & LOCATION: May 30, 2008
Oklahoma Bar Center
Oklahoma City
CLE CREDIT: This course has been approved by the Oklahoma Bar Association Mandatory Continuing Legal Education Commission for 4.5 hours of mandatory CLE Credit, including 0 hours of ethics.
TUITION: $100, for early-bird registrations received with payment at least four full business days prior to the seminar date; $125 for registrations received within four full business days of the seminar date. No discounts.
CANCELLATION POLICY: Cancellations will be accepted at any time prior to the seminar date; however, a $25 fee will be charged for cancellations made within four full business days of the seminar date. Cancellations, refunds, or transfers will not be accepted on or after the seminar date.
ON-LINE REGISTRATION: To register on line for the live program click here. Registration will be available up to four days prior to the seminar date.
PROGRAM:
Dustin Cole
Dustin Cole is a Master Practice Advisor and is President of Attorneys Master Class, one of the nation's leading attorney practice development organizations. Mr. Cole has trained over ten thousand attorneys across the United States in how to build more successful practices and develop their dream retirements. He brings more than 35 years of experience in every phase of marketing and management to his work and the legal profession.
**NOTE EARLY PROGRAM TIME
8:00 Registration & Continental Breakfast
8:30**
I. Building the Picture of Your Dream “Phase Two”
  1. Professional goal
  2. Financial resources
  3. Timeline
  4. Personal goals
  5. Group discussion and exercise
II. The Typical “Succession Plan”
  1. Work hard, hire an associate, hope for the best
  2. Give up on associate, continue to work longer than expected
  3. Sell or close the practice
  4. Identifying the seeds of failure
III. The Successful Succession Plan
  1. Build a practice worth “buying”
  2. Build a business plan for succession
  3. Building the organization chart
IV. The Eight Essential Steps of the Succession Business Plan
V. Step One: Building the Transition Timetable
  1. Why a timetable is necessary
  2. Benchmarks
  3. Evaluation criteria
  4. Building a concrete transition schedule
  5. Mutual accountability
  6. Personal planning
  7. Group discussion & exercise: create your personal timeline
IX. Step Five: Planning for Transition of Leadership: What You Do and Who You Work With
  1. The difference between leadership and management
  2. Inside and outside perceptions of leadership
  3. Avenues for education and training
X. Step Six: Planning For Transition of Business Development
  1. Business origination skills and contacts must be part of the transition.
  2. Web and advertising presence
  3. Group discussion & exercise: add business development timeline
XI. Step Seven: Planning For Transition of Client Relationships
  1. Assuring that clients remain with the firm during and after the transition is an essential component of transferring the value of the practice
  2. Drawing the successor(s) into the client relationship
  3. Transferring trust
  4. Group discussion & exercise: add client transition timeline
VI. Step Two: Identification and Grooming of Successor(s)
  1. The cost of an inadequate selection process
  2. How to choose person who can become you
  3. Group discussion & exercise: add successor identification and hiring time line
VII. Step Three: Planning for Ownership Transition
  1. To attract the right successor you must have a plan and schedule for ownership transfer
  2. The importance of timelined transfer of ownership
  3. Methods for setting share values
  4. Setting the hook
  5. Alternate purchase methods
  6. Agreement and schedule for firm name change
  7. Defining the after-transition relationship
  8. Group discussion & exercise: add ownership transition timeline
VIII. Step Four: Planning for Management Transition
  1. The necessity of training your successor to take over as manager of your legal business
  2. Management skills not part of law school curriculum
  3. Assigning specific managerial and project responsibilities
  4. Phased change of team reporting structure
  5. Group discussion & exercise: add management transition timeline
XII. Step Eight: Revision of Compensation System From Subjective to Objective
  1. Structure must be codified to provide objective basis for both owner and successor compensation
  2. Group discussion & exercise: create basic compensation structure
XIII. Client & Practice Protection Measures
  1. Group discussion & exercise: identify issues to protect your clients & practice in the event of a natural or personal disaster
  2. Reviewing systems & procedures for continuity
  3. Reviewing management and tracking of client service for safety and continuity
  4. Reviewing data storage
  5. Appointing & educating a crisis successor
  6. Considering Key Man insurance
  7. Documenting ownership and management procedures post-you
  8. Recording and documenting all equipment
XIV. Sample Transition Timetable
XV. Questions and Discussion
12:30 Adjourn
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